Have your grandparents or parents forgotten to withdraw money from an old bank account? Or maybe there’s a fixed deposit that’s been sitting idle for years? You’re not alone! Thousands of indians have unclaimed deposits stuck in old or inactive bank accounts — but now, thanks to the Reserve bank of India (RBI), reclaiming that money has become quick and simple.

Let’s break down how you can get your money back in just three easy steps 👇

🏦 What Are Unclaimed bank Deposits?

Before we jump to the process, let’s understand what unclaimed deposits actually mean.

If an account — savings, current, or fixed deposit — has had no activity for 10 years or more, banks classify it as “unclaimed.” Similarly, if someone has passed away and their heirs never claimed the funds, that money is transferred to a special RBI-managed fund called the Depositor education and Awareness (DEA) Fund.

The good news? You can still get that money back easily! ✅

⚙️ Step 1: Visit the RBI’s ‘UDAI’ Portal

To make the process smoother, the RBI launched a centralised online platform called UDAI (Unclaimed Deposits – Access India).

🔹 Visit 👉 https://udai.rbi.org.in
🔹 Enter details like:

· Your name

· Bank name

· Branch name

· Last known address or PAN (if available)

The portal will instantly tell you if there are any unclaimed deposits linked to those details.

💡 Tip: You can also search using your family member’s name — ideal for retrieving grandparents’ or deceased relatives’ funds.

📝 Step 2: Contact the bank Directly

Once you find the unclaimed account on the portal, note the details and contact the respective bank branch where the account was held.

You’ll need to submit:

· A written request for claim

· A valid ID proof (Aadhaar, PAN, etc.)

· Old account details or passbook (if available)

· Proof of relationship (for heirs or nominees)

💡 Tip: Many banks now offer the option to raise this request online or through email, making the process even faster.

🧾 Step 3: Complete Verification & Get the Refund

The bank will then verify your identity and check the details with the RBI’s DEA Fund records. Once verified, the amount will be credited directly to your account within a few working days.

If you’re claiming on behalf of a deceased person, the bank may require legal heir or succession documents — but even that process has been simplified.

✅ That’s it! Your forgotten money is now safely back where it belongs.

🪙 Bonus Tip: Keep Accounts Active

To prevent this from happening again:

· Use your account for at least one transaction a year

· Update KYC details regularly

· Link your mobile number and Aadhaar

· Set reminders for FD renewals

Even a simple balance check or small withdrawal keeps your account “active.”

🔔 Final Word

Thanks to the RBI’s UDAI initiative, retrieving unclaimed deposits is now transparent, free, and user-friendly. Whether it’s your own old savings account or your grandparents’ forgotten FD, you can now reclaim your money in just three simple steps.

 

Disclaimer:

The views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of any agency, organization, employer, or company. All information provided is for general informational purposes only. While every effort has been made to ensure accuracy, we make no representations or warranties of any kind, express or implied, about the completeness, reliability, or suitability of the information contained herein. Readers are advised to verify facts and seek professional advice where necessary. Any reliance placed on such information is strictly at the reader’s own risk.